Preschool Furniture & Fixtures - Bulk Purchase of ALL Items

COURT-ORDERED AUCTION By Order of the U.S. Bankruptcy Court Southern District of Florida • Fort Lauderdale Division In Re: Sprouting Dreams, LLC Case Number: 22-12633-SMG Marc Barmat, Trustee Timed Auction of Preschool Furniture & Fixtures June 2022 1. SCOPE: Marc Barmat, Chapter 7 Bankruptcy Trustee, Sprouting Dreams, LLC, will conduct a public auction of inventory consisting of Office Furniture, Pre-School Furniture & Fixtures, Playground Equipment, and Computer Related Equipment. These assets are further described in the Debtor’s Schedules that were filed with the Petition for Bankruptcy and identified as Case Number 22-12633-SMG. 2. AUCTION DATE: • This auction will be a Timed On-Line Auction. Bids will be received on the National Auction Company's Proxibid web page and conducted on Proxibid.com. • Registration for the auction will be through Proxibid.com and bidders will be required to comply with terms established by Proxibid.com. • The auction is scheduled to open on June 14, 2022, at 3:00 P.M. and will end on June 21, 2022, at 3:00 P.M. • The top bid price will be reported to the Chapter 7 Trustee who will either accept or reject the top bid price. Any bids received after published closing times will not be accepted except those that fall under the conditions of Extensions of Bid described in the following bullet. • Bid Extensions - In the event a bid or bids are made during the last two minutes of an auction, the ending time for the auction will be extended for an additional two minutes. Extensions will continue until no further bids are received. • The assets included in this Timed-Bid Auction are offered Subject to the Confirmation of the Seller, Marc Barmat, Chapter 7 Trustee. The inventory may be withdrawn by order of the Chapter 7 Trustee. It is expected Top Bidder will receive notification their bid has either been accepted or rejected no later than 48 hours from the time the auction closes. • The assets included in this auction will be offered for sale in bulk only. The Trustee will only consider bids that are inclusive of all of the assets included in the inventory. • The Auctioneer reserves the right to establish the minimum opening bid price and amounts for bid increases. In the event bidders do not comply with the minimum amounts stated, bids received that are less than those set forth will not be accepted. 3. AUCTION SITE: The Auction will be conducted by National Auction Company on Proxibid.com. 4. INSPECTION OF INVENTORY: • The inventory included in this Timed-Bid Auction is presently being stored at a Public Storage Building and can be previewed by appointment. To schedule a preview, please contact National Auction Company at (954) 658-5033. • Please be advised previews will be limited to those who have made an appointment with the Auctioneer. • The Auctioneer and his staff have provided information pertaining to the assets being offered based upon descriptions provided by the Debtor as stated in the Bankruptcy Petition. • Neither the Bankruptcy Trustee nor Auction Company has verified the inventory, however, it is presumed to be correct. In the event the actual count for any item (s) vary, no discount on the purchase price will be made. • Photographs were taken by the Auctioneer and depict the assets being offered for sale. • Specific questions or other information should be addressed to George Richards at (954) 658-5033. It is possible specific information requested may not be available. 5. DEPOSITS & FINAL PAYMENT: • Payment in full is expected at the conclusion of the auction by Cash, Cashier's Checks, Money Orders, or Bank Wire Transfer. Corporate checks will only be accepted when accompanied by a current Bank Letter and made specifically for this auction and addressed to the National Auction Company guaranteeing payment and subject to verification at the time of Bidder's registration. • The top bidder will be required to make a deposit that equals 25% of the full purchase price upon notification the Trustee has accepted their bid. The remaining balance will be due within 24 hours after being notified the top bid price has been accepted. In the event the required deposit is not made, the Bankruptcy Trustee reserves the right to sell the assets to the backup-bidder. • Please be advised credit cards, debit cards or other forms of payment including Zelle will not be accepted at this auction. • Final payments can be sent to the Auctioneer’s Escrow Account by wire transfer. Wire instructions is available upon request. • The final payment must be paid no later than June 24, 2022. 6. FLORIDA SALES TAX: • All sales are subject to rules of the Florida Department of Revenue. • Florida dealers who are purchasing for resale must supply a copy of their 2022 Resale Certificate at the time of bidder registration. 7. FORM of AUCTION: • This auction is conducted pursuant to the Order of the United States Bankruptcy Court, Southern District of Florida on behalf of Marc Barmat, Chapter 7 Trustee for Sprouting Dreams, LLC. • It is expected the Trustee or their Representative will observe the auction as it progresses on Proxibid. Confirmation of the top bid price is expected following the conclusion of the event. 8. BUYER'S PREMIUM: • A 10% Buyer's Premium will be added to all top bids and included in the total purchase price. • For the purpose of determining the final purchase price, the top bid and 10% Buyer’s Premium becomes the total purchase price. 9. METHOD of SALE: • The method and order of sale will be at the auctioneer's discretion. • In the event assets are offered at the auction and bids are not received, the Auctioneer may offer them at a later time or await specific instructions from the Bankruptcy Trustee. • The top bid price is subject to confirmation of the Trustee. • Bids will only be accepted from bidders who have registered with the Auctioneer through Proxibid. • The Auctioneer reserves the right to ask for additional deposits from any bidder during the course of the auction. In the event a deposit is requested and not given the inventory sold may be resold at the option of the Trustee or Auctioneer. • All information contained in Auction Flyers, Website, Proxibid Platform, newspaper ads, or furnished by staff members is believed to be correct but is not guaranteed. Bidders must rely upon their own information, judgment, and inspection of the vehicles offered. • In the event a Top Bidder fails to make the final payment, any deposit given will be subject to forfeiture. • Assets cannot be removed from the auction site until complete and final payment has been made. 10. REMOVAL: • All purchases must be removed from the storage facility premises as soon as possible. Arrangements for removal must be scheduled through the National Auction Company. • Purchases can be removed on auction day after payment in full has been made during regular business hours of the storage facility. • All inventory and assets must be removed no later than June 27, 2022, by 12:00 P.M. 11. COLLUSION • Collusion is defined as an agreement among competitive bidders to raise, fix or otherwise maintain the price at which goods or services are sold. • Auctions are governed under the Sherman Act enacted in 1890. The Sherman Acts prohibits any agreement among competitors to fix prices, rig bids or engage in other anti-competitive activity. • Violations of the Sherman Act may be considered to be a felony and punishable by fines established in the Act. • Bidders planning to participate in this auction should be aware violations that come to the attention of National Auction Company will be reported to the Broward County Board of County Commissioners for action they determine to be appropriate. 12. AUCTIONEER CONTACT INFORMATION: If additional details are needed please contact George Richards at (954) 658-5033 (cell) or grichards@natlauction.com (E-mail). National Auction Company Licensed Real Estate Brokers & Auctioneers AB640•AU899